Nokia to launch equivalent of up to $342 million in stock repurchases

Shares of Nokia Corp. /zigman2/quotes/207421390/composite NOK +0.25% /zigman2/quotes/203672305/delayed FI:NOKIA +0.71% rose 0.4% in premarket trading Friday, after the Finland-based network infrastructure company said it plans to start buying back up to EUR300 million ($341.8 million) of its stock on Feb. 14 at the earliest. The "first phase" of the company's buyback plan, which is part of a previously announced two-year EUR600 million buyback program, will end by Dec. 22, 2022. "The purpose of the repurchases is to optimize Nokia's capital structure through the reduction of capital," the company said in a statement. The U.S.-listed stock has slipped 1.1% over the past three months through Thursday, while the S&P: 500 /zigman2/quotes/210599714/realtime SPX +0.11% has eased 3.1%.

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Add to watchlist NOK

Nokia Corp. ADR

US : U.S.: NYSE

$ 4.00

+0.01 +0.25%

Volume: 15.67M

June 9, 2023 4:00p

P/E Ratio

5.10

Dividend Yield

1.68%

Market Cap

$22.74 billion

Rev. per Employee

N/A

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Nokia Corp.

FI : Finland: Helsinki

€ 3.78

+0.03 +0.71%

Volume: 11.22M

June 9, 2023 6:29p

P/E Ratio

4.95

Dividend Yield

3.17%

Market Cap

€21.14 billion

Rev. per Employee

N/A

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S&P 500 Index

US : S&P US

4,298.86

+4.93 +0.11%

Volume: 0.00

June 9, 2023 5:38p